Trump, standing alongside Starmer at the G7 summit in Canada, said the relationship with Britain was "just fantastic," as he waved, and briefly dropped, a document which he said he had just signed.
"We signed it and it's done," he said.Â
Trump added: "It's a fair deal for both. It'll produce a lot of jobs, a lot of income."
Starmer said the proclamation would implement agreements reached on auto tariffs and aerospace, without providing any details.
"(It's) a really important agreement. And so this is a very good day for both of our countries, a real sign of strength," he said.
Three sources familiar with the matter told Reuters that the proclamation on terms of the deal would cover provisions on trade in steel, ethanol, autos and beef.
The White House said US Commerce Secretary Howard Lutnick would determine a quota for UK steel and aluminium imports that could enter the United States without facing Trump's 25 per cent tariff on steel. No further details were immediately available.
British businesses, and the UK government, were blindsided earlier this month when Trump doubled metals tariffs on countries around the world to 50 per cent. He later clarified the level would remain at 25 per cent for the UK.
Trump said the UK was "very well protected" when asked whether Britain would be protected from any future tariffs.
Asked whether he could guarantee the country would be protected from any further levies, the US president told reporters in Canada: "The UK is very well protected, you know why? Because I like them."
Trump would not say whether British steel would still be subject to tariffs in future.
Britain has avoided tariffs of up to 50 per cent on steel and aluminium that the US imposed on other countries earlier this month, but could have faced elevated tariffs starting on July 9 unless the deal to implement the tariff reduction was reached.
with AP
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